The holder of the note makes no real difference; in Jane's case, it might be more advantageous to her to hold the note than sell outright depending on how she can absorb the sale from a tax perspective; in your case you don't have enough income to do a conventional loan so getting a seller carry can give you more properties.

Most lenders but not all, should use the existing 2nd unit lease at 75% of gross for extra income to qualify on either loan types.

If you don't have patience or expertise or time I would just sell and 1031 exchange into a property that generates income, appreciates and helps build wealth.

If you're looking for basic income/expense tracking, I'd suggest checking out Stessa.

Profile:Investor owned LLC -LLC owns 5-6 properties-Investor normally takes every legal write possible so LLC DTI is high-LLC normally has an annual paper loss wInvestor Personally- Investor owns 2-3 properties not in the LLC-Equity in property 1 is over 70% and equity in others are around 50%-Investors personal DTI is around 15-18%Based on what you see above, the investor would like to tap into the equity in one of the above personal properties. 

After about 10-12 yrs the cash flow will be about $70,000/yr (5% increase in rent annually).

NJ LLC's have annual filing requirements just to maintain LLC status.  

Currently have a couple rentals, a flip going on and made income from 2 different LLC last year.

And is there an annual fee to maintain the LLC, how much is it?

Third, note that any RE done in a traditional qualified account (SD-IRA, Solo 401K, etc) takes all that wonderful Cap Gain income and turns it into earned income.